Stocks making the biggest moves premarket: CMCSA, SPCX, CHTR
Check out the companies making the biggest moves premarket: Comcast — Shares surged 20% after the company announced it would spin off its media portfolio of NBCUniversal and Sky. The spin-off is expected to be completed in about one year, and will see Comcast co-CEO Mike Cavanagh stepping into the role of leader at NBCUniversal, while former Comcast CFO Michael Angelakis will become chief of the telecommunications company. Rocket Lab , Iridium Communications — The two companies’ stocks jumped after Rocket Lab announced it would acquire Iridium. Rocket Lab said the merger will combine the company’s launch capabilities with Iridium’s satellite communications network. Rocket Lab jumped more than 10% while Iridium surged more than 20%. SpaceX — The stock rose 2% after Nasdaq announced on Friday that SpaceX would be added to the Nasdaq 100 index before trading on July 7. Its inclusion could lead to a wave of ETF buying demand. Charter Communications — The home internet provider soared almost 20% on a Bloomberg report from Friday that said the company and SpaceX had held exclusive talks on a consumer phone product. The report said Charter could run some of SpaceX’s consumer mobile phone traffic through its ground internet infrastructure. Alphabet — Shares were up about 1% as the “Magnificent Seven” darling was set to trade for the first time on the Dow Jones Industrial Average on Monday. Alphabet is replacing Verizon on the 30-member blue chip index. Verizon Communications — The telecommunications company was off 0.5% after it projected second quarter losses between $700 million and $800 million. The estimate comes from the company classifying businesses its contributing as part of a joint venture with U.K.-based BT Group as held for sale. Martin Marietta Materials — Shares slipped almost 3% after the company announced an agreement to combine with Lhoist North America for $13.5 billion in cash. The natural resource building materials company said Lhoist will expand its portfolio in industrial minerals. Oracle — The cloud company rose 3% as it looked to start the shortened trading week with a rebound from its worst week since 2001 . Shares fell 19% last week on worries about the company’s debt and if its bet on artificial intelligence will pay off. TeraWulf — Shares were up 3% after Citi initiated coverage with a buy rating. Analysts at the bank said the company is addressing key bottlenecks when it comes to delivering power for data centers, making it an attractive AI trade play.
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